STO has significantly increased the price of fuel sold to private businesses.
FSM, the fuel company operated under STO, sells fuel to businesses at varying rates depending on the distance the fuel must be transported.
According to Velidhoo MP, Mohamed Abbas, businesses in that region have been informed that starting today, a liter of diesel will be sold for MVR 28.32. The price for petrol is MVR 27.13.
The Mayor of Kulhudhuffushi City, Mohamed Athif, stated that a liter of petrol sold through private businesses in the city is now at MVR 29.30. Additionally, while a liter of diesel was previously at MVR 15.19, it is now at MVR 29.51.
In Addu City, fuel prices have also now risen to MVR 29. The Mayor of Addu City, Ali Nizar, has also expressed concern regarding this matter.
Despite these changes, no further adjustments have been made to the price of fuel sold by STO to the public in the Malé area since the increase earlier this month. Therefore, in the Malé area, a liter of petrol is available for MVR 16.01 and a liter of diesel for MVR 17.54.
With the price of fuel sold to businesses doubling, fuel prices in the atolls have increased immensely. Due to this, the prices of many services are also rising.
In this regard, information has been received that the prices of speedboat trips in some regions have doubled today.
STO brought this change to the prices following the multi-fold increase in the price of oil and gas in the global market due to the ongoing war in the Middle East.
